Vodafone Holders Reject Activist Plan

LONDON -- Vodafone Group PLC shareholders overwhelmingly voted to support the wireless-telecommunications carrier's U.S. business strategy yesterday, rejecting activist investor Efficient Capital Structures' calls for change.

Holders of less than 5% of Vodafone's proxy shares voted in favor of ECS's resolution calling for the British company to spin off its 45% stake in U.S. mobile operator Verizon Wireless, or to issue a tracking...